G7 finance ministers agreed an historic commitment to make it mandatory for corporates to report climate impacts and investment decisions, alongside new measures to strengthen central company beneficial ownership registries to crackdown on environmental crime. The ministers also backed work by the International Financial Reporting Standards Foundation that will seek to develop a new global standard for sustainability reporting that builds on the TCFD framework, and welcomed the launch of The Taskforce on Nature-related Financial Disclosures (TNFD), which has an aim to align corporate reporting and financial spending to alleviate nature-related risks. Additionally, the G7 agreed to tax reforms for multinationals, whereby a global minimum rate of 15% tax for each country that a business operates in looks set to be introduced.

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